Service industry picks up, but experts remain uncertain about future

Service-related business activity expanded in May, climbing from an index of 53.1 the month prior to 53.7. While some industry leaders said they saw improved business, others said they are not optimistic the market is recovering.

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This chart shows service-related business activity continuing to expand through May, moving from April's index of 53.1 to an index of 53.7. The business activity index climbed to 56.5, showing a 2.73 percent increase from the level reported a year earlier.

"The flat sequential sales — which began in January 2012 — are still continuing. At this point, we do not predict any lift in the foreseeable future. We do not see any negatives; it appears that business has reached its 'cruising altitude' and is staying there." (Wholesale Trade)